Puerto Rico Compass ©

4Q-2016 Industry Leaders React to New Policies

4Q-2016 industry analysis and PR Administration policies
This edition of Puerto Rico Economic Compass, analyzes the 4Q-2016 economic indices and includes an industry analysis of the PR economy plus economic policies proposed by the new Administration. The elected governor, Ricardo Roselló and the PROMESA Fiscal Oversight Board have certainly altered expectations for 2017. New executive orders, approval of sweeping labor legislation, and continued dialogue with the PROMESA Board regarding key recommendations to be implemented in the near term, have raised both praise and criticism by several industry sectors. For instance, the recently approved Labor Reform Act has been praised and promoted by several industry and retail employers but has met a backlash from many in the labor movement. No doubt, the new government has been very busy trying to adopt and implement the fiscal and economic plan demanded by the PROMESA board since last December. What’s the rest of the story?
Puerto Rico Economic Pulse ©

Jan 2017: A Needle Hard to Thread

The challenges of health and PROMESA for Puerto Rico
A new year has arrived and brought with it a series of complex issues that require immediate attention. The US Congress mandated fiscal supervisory Board under PROMESA is dealing with PR’s fiscal and economic crisis. Health is one of the priorities as well as payment of PR’s public debt. With the upcoming repeal of Obamacare in the US, Puerto Rico faces a shortfall of almost $1 billion in federal funds for the public healthcare system, putting thousands of Puerto Ricans at risk. The Board is just starting to demand quick action from the new government by establishing a dialogue and trying to expedite under a tight timeline the process of certifying a sustainable fiscal plan that would restore fiscal discipline, provide access to financial markets, pay the public debt, and bring economic growth to PR over the next decade. But, will it succeed? Amidst all these priorities is Puerto Rico’s healthcare plan for the medically indigent. Find out what has happened since started on September 1993 and what lies ahead in the immediate future for PR.